Artificial lift system market is set to boom in 2022

North America, the market leader for artificial lift system in 2015, is expected to get surpassed by LAMEA by 2022, as oil reserves in Saudi Arabia have reached the maturity stage and companies are implementing enhanced oil recovery techniques to extract oil to commence deep drilling in order increase productivity

US to dominate global oilfield equipment rental market from 2017-2022

In the recent report on oilfield equipment, the leading market research company Research and Markets declared that the global rental market of oilfield equipment is projected to grow at a CAGR of 3.87 per cent from 2017 to 2022, with reaching a market size worth US$20.55bn by 2022

The chief executive officer of Iran's Petroleum Engineering and Development Company (PEDEC) said that Total, Inpex and Petronas have submitted findings and development proposals for the South Azadegan field in Iran